Chen Yuan facts for kids

Chen Yuan (born in January 1945) is an important Chinese economist. He is currently the chairman of the China Association for International Friendly Contact (CAIFC). Before this, he led the China Development Bank from 1998 to 2013.

From 2013 to 2018, Chen Yuan also served as a Vice Chairman for a big group called the National Committee of the Chinese People's Political Consultative Conference. He is the oldest son of Chen Yun, who was a former Vice Premier.

Chen Yuan's Early Life and Education

Chen Yuan studied at the Graduate School of Chinese Academy of Social Sciences. He earned a master's degree in Industrial Economics. He learned from famous economists named Yu Guangyuan and Ma Hong.

Starting His Career in Beijing

In August 1982, Chen Yuan began working in the government. He became a secretary for the Xicheng District Committee in Beijing. He also directed Beijing's Commerce and Trade Department.

In March 1988, he took on a new role. He became the deputy secretary of a leading group and a vice governor at the People's Bank of China. This bank is like the central bank of China.

Leading the China Development Bank

In April 1998, Chen Yuan was chosen to be the governor of the China Development Bank (CDB). This bank helps fund big projects in China.

Making Changes at the Bank

As governor, Chen Yuan made important changes. He worked to give the CDB more freedom. He wanted the bank to make its own decisions about raising money and lending it out. This meant less direct control from the government.

Ideas After the 2008 Financial Crisis

After the worldwide financial crisis in 2008, Chen Yuan had a new idea. He thought China should manage its money reserves more actively. China has a lot of foreign money.

Chen Yuan believed China should use these reserves to buy energy and minerals. This would help protect China's money if prices for goods went up or if the US dollar became weaker.

Leaving the Bank and New Roles

Chen Yuan left his job as CDB governor in 2013. After he left, the bank's power became less strong.

In 2013, he became a vice chairman of the National Committee of the Chinese People's Political Consultative Conference. This group helps advise the government.

Since 2008, Chen Yuan has also been the Chairman of the China Finance 40 Forum (CF40). This is a group that discusses important financial topics.